UBS Cuts 2026 Gold Target to $5,500 as High Yields and Strong Dollar Weigh

8 articles · Updated · Kitco NEWS · May 27

$5,500 per ounce is UBS’s new year-end 2026 gold forecast, down from $5,900, after the bank said elevated Treasury yields and a firm U.S. dollar are curbing investor demand.
ETF and futures demand have softened significantly, UBS said, and the recent stabilization in flows has not been enough to revive the strong upward momentum gold showed earlier in 2026.
UBS still says the structural bull market in gold is intact and expects the metal to end this year about $1,000 above current levels, though investors may need more patience.
For 2027, the bank sees a more neutral monetary-policy backdrop potentially weakening dollar support and improving appetite for gold again.

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